Innovator S&P 500 Power Buffer ETF - May (PMAY) Performance
PMAY total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +6.6% since Dec 31, 2025
- 1 year
- +8.2% total return
- 5 years
- +7.0% a year
- Since first price
- +8.2% a year since 2020
PMAY trailing returns vs SPY, QQQ, AGG
| Period | PMAY total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.1% | −0.1% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.4% | +2.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +4.4% | +4.4% | +7.8% | +8.4% | −1.5% |
| YTD | +6.6% | +6.6% | +12.3% | +15.1% | −1.0% |
| 1 year | +8.2% | +8.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +44.3%+13.0%/yr | +44.3% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +40.0%+7.0%/yr | +40.0% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionMay 1, 2020 | +66.7%+8.2%/yr | +66.7% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: PMAY vs SPY
From May 1, 2020: PMAY grew to $16,671, SPY to $29,383.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PMAY returns by calendar year
4 of 5 full years positive. Best 2024 (+14.1%), worst 2022 (−8.1%). 2026 is year to date.
PMAY annual returns table
| Year | PMAY | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +6.6% | −1.8% | +12.3% | +15.1% | −1.0% |
| 2025 | +10.3% | −9.4% | +17.7% | +20.8% | +7.2% |
| 2024 | +14.1% | −3.8% | +24.9% | +25.6% | +1.3% |
| 2023 | +12.1% | −4.4% | +26.2% | +54.9% | +5.7% |
| 2022 | −8.1% | −13.0% | −18.2% | −32.6% | −13.0% |
| 2021 | +7.8% | −2.2% | +28.7% | +27.4% | −1.8% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
PMAY largest drawdowns
Now 1.0% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Mar 29, 2022 | −13.0% | Sep 30, 2022 | Dec 1, 2023 | 6 months | 1.7 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
PMAY risk statistics
| Statistic | 3 years | 5 years | Since 2020 |
|---|---|---|---|
| Annualized return | +12.7% | +7.4% | +7.7% |
| Volatility (annualized) | 4.4% | 7.5% | 6.9% |
| Sharpe ratio | 1.79 | 0.53 | 0.71 |
| Sortino ratio | 4.75 | 0.77 | 1.07 |
| Best month | +5.6% | +5.6% | +5.6% |
| Worst month | −1.8% | −6.2% | −6.2% |
| Best 12 months | +20.9% | +20.9% | +20.9% |
| Worst 12 months | +8.6% | −9.2% | −9.2% |
| Positive months | 86% | 72% | 72% |
| Beta vs S&P 500 | 0.29 | 0.43 | — |
| Correlation with S&P 500 | 0.82 | 0.91 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
PMAY rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 66 | −9.2% | +9.6% | +20.9% | 80% |
| 3-year (a year) | 42 | +2.4% | +6.2% | +13.2% | 100% |
| 5-year (a year) | 18 | +6.7% | +7.0% | +7.5% | 100% |
Every holding period starting at a month-end since 2020. Returns for 3 years and longer are annualized.
PMAY performance overview
Innovator S&P 500 Power Buffer ETF - May (PMAY) returned +8.2% over the past year and +7.0% a year over five years, with distributions reinvested. Since its first recorded price in 2020 it has returned +8.2% a year, turning $10,000 into about $16,671. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −13.0%, from Mar 29, 2022 to Sep 30, 2022, and it took 1.2 years to get back to the old high. PMAY finished 4 of its 5 full calendar years with a gain; the best year was 2024 (+14.1%) and the worst 2022 (−8.1%). Volatility has been 6.9% a year.
Related: PMAY chart. See the PMAY overview for the latest quote and fund facts.
PMAY performance FAQ
What is the PMAY return over the past year?
PMAY returned +8.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 8.2%.
What is the average annual return of PMAY?
PMAY has returned +7.0% a year over 5 years, +8.2% a year since May 1, 2020 (total return, distributions reinvested).
How much would $10,000 invested in PMAY be worth?
$10,000 invested in PMAY at its first recorded close on May 1, 2020 would be worth about $16,671 on October 23, 2026 with distributions reinvested.
What was the worst year for PMAY?
The worst calendar year was 2022, with a total return of −8.1%. The best was 2024 at +14.1%.
What is the biggest drawdown of PMAY?
The largest peak-to-trough decline was −13.0% between March 29, 2022 and September 30, 2022. It recovered to the old high on December 1, 2023, 1.2 years after the bottom.
How volatile is PMAY?
Over the past 3 years PMAY had an annualized volatility of 4.4% and a Sharpe ratio of 1.79 (excess return over 1–3 month T-bills per unit of risk).